Have you ever heard of the term “planogramming”? Plannograming is, in essence, a visual representation of a store’s products or services on display. A planogram is also known as the blueprint of in-store merchandising, a tool which business owners all over the globe are utilising in 2019. In-store merchandising is a powerful tool that can increase sales and revenue levels for any business that utilises it in a smart and efficient way. In today’s article, we have a look at the advantages of in-store merchandising, so read on to find out more!
- Attract Customers To Your Business
Merchandising is one of the best ways to create a buzz and attract customers to your business. First impressions count, and if a customer is impressed with the merchandising in your store, the higher the chances of them stepping in and doing business with you. In-store merchandising ironically starts outside – where customers first see your store and decide on whether they would like to step into your store or not. Bright, clear signage and attractive window displays all contribute to the overall feel and look of your establishment which will in turn influence whether a customer decides to walk in or not. Your window displays are also a fantastic way to give shoppers a rough idea of what your store has to offer, thus enticing people to walk in and make purchases that will contribute to an increase in sales and revenue. This is step one in the power of in-store merchandising.
- Maximise The Potential Of Your Space
Maximising the potential of your retail space is essential in running a successful business. Your retail location is a space that you are paying for, making it even more important that you fully utilise it to maximum capabilities. Creative approaches to in-store merchandising can aid in helping you get more out of your current retail space without the need for renovations or expansions. Your store layout should flow seamlessly and direct your customers to products that they are looking for. This flow works to the benefit of your business as you will be able to steer customers towards products you want to highlight or specific promotions you want to increase awareness on.
- Increased Sales
In-store merchandising is a key component that contributes to increasing your sales and revenue. Effective and smart merchandising often has a clear and positive effect on the buying habits of your customers when done right. Displays, signs, pricing, well-stocked and organised racks and shelves can all drive sales upward whilst at the same time improving the overall shopping experience for your customers. Some great tips when it comes to in-store visual merchandising is to keep things neat and tidy, utilise multimedia where possible and to create interactive displays that your customers can engage with.
- Spur Impulse Purchases
Have you ever noticed the till area of your local supermarket? Chances are, it’s stacked with bars and bars of chocolate, candy and other naughty treats that most of us try to avoid. Most of the time, we end up grabbing a chocolate bar in the end because “why the heck not!”. This is one of the greatest in-store merchandising tricks in the book. Impulse buying is triggered when a shopper sees a product for the first time and visualises a need for it. Customers don’t necessarily buy things because they want them but are instead influenced by how the product is presented to them. Using this same psychology, effective in-store merchandising has the power to trigger impulse purchases at your retail outlet. Specific merchandising of certain products in your store can trigger the impulse purchase need in your customers, thus increasing your sales without even really trying!
- Get The Most Value Out of Your Products
Lastly, merchandising is a tool that helps businesses get the most value out of their products. If you have old stock or products that are difficult to sell, you can effectively use merchandising in the form of promotional or discount signs to lure customers to certain products that you are looking to get rid of. This can help in getting rid of old stock that would otherwise go to waste, allowing for new, more popular products to hit your shelves sooner rather than later.